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Vedanta Oil and Gas Limited Releases Q2 and Half Year Unaudited Financial Results with ₹379 Crore Impairment for Cambay Block

Company reports unmodified auditor opinion despite ongoing legal appeal on Production Sharing Contract with Ministry of Petroleum & Natural Gas

Vedanta Oil and Gas Limited announced its unaudited consolidated and standalone financial results for the second quarter and half year ended September 30, 2026, with an impairment provision of ₹379 crore for Cambay Block assets amid ongoing litigation, accompanied by an unmodified auditor opinion from Walker Chandiok & Co LLP.

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Vedanta Oil and Gas LimitedVOGLFinancial Results

Vedanta Oil and Gas Limited

Financial Results

Vedanta Oil and Gas Limited announced its unaudited consolidated and standalone financial results for the quarter and half year ending September 30, 2026, with an impairment provision of ₹379 crore related to assets in the Cambay Block amid ongoing litigation over Production Sharing Contract extension.

The Board of Directors approved the financial results for Q2 and H1 FY2026-27 in a meeting held on October 29, 2026. The statutory auditors, Walker Chandiok & Co LLP, issued a limited review report with an unmodified opinion on the results.

The company disclosed a ₹379 crore impairment provision against the carrying value of non-financial assets and certain balances related to the Cambay Block. This follows a dismissed legal challenge by the Delhi High Court concerning the extension of the Production Sharing Contract (PSC) with the Ministry of Petroleum & Natural Gas, with the company currently appealing this decision before the Divisional Bench.

The financial results incorporate interim financial data from one subsidiary with total revenues of ₹302 crore and a net loss after tax of ₹8 crore for both the quarter and year-to-date periods. These figures are unaudited but considered immaterial to the group.

Additional disclosures indicate no deviations or outstanding defaults on loans and debt securities, with related party transaction details to be filed later as per half-yearly requirements.

The Board meeting lasted from 3:07 p.m. to 4:02 p.m. IST on October 29, 2026.

Highlights

  • Unaudited consolidated and standalone financial results approved for Q2 and H1 ending September 30, 2026.
  • ₹379 crore impairment provision related to Cambay Block assets due to ongoing PSC litigation.
  • Statutory auditor Walker Chandiok & Co LLP gave unmodified opinion on the results.
  • Company is appealing Delhi High Court dismissal of PSC extension litigation as of July 22, 2026.
  • Subsidiary interim financials show ₹302 crore revenues and ₹8 crore net loss for the period, considered immaterial.
  • No default on loans or debt securities reported in this filing.

Key Data Snapshot

Reporting periodSecond quarter and half year ended September 30, 2026
Impairment provision for Cambay Block assets₹379 crore
Revenues of subsidiary₹302 crore
Net loss after tax of subsidiary₹8 crore
Board meeting dateOctober 29, 2026
Board meeting time3:07 p.m. to 4:02 p.m. IST

What happened

  • Vedanta Oil and Gas Limited's Board approved unaudited consolidated and standalone financial results for the quarter and half year ending September 30, 2026.
  • An impairment provision of ₹379 crore was recognized for Cambay Block related assets due to ongoing legal uncertainty about the Production Sharing Contract extension.
  • Legal proceedings include an appeal following a July 22, 2026 Delhi High Court dismissal of the company's challenge to the Ministry of Petroleum & Natural Gas's rejection letter.
  • The statutory auditor Walker Chandiok & Co LLP issued an unmodified opinion on the financial results, confirming compliance with applicable accounting standards.
  • Interim financial results from a subsidiary included total revenues of ₹302 crore and a net loss after tax of ₹8 crore for the period, considered immaterial to the group.

Regulatory and governance context

  • The financial results have been prepared in accordance with Indian Accounting Standard 34 (Ind AS 34) and SEBI Listing Regulations Regulation 33.
  • No deviations or variations in public issue or preferential issue proceeds were reported.
  • No outstanding default on loans and debt securities was declared.
  • Related party transaction disclosures will be filed later with XBRL for the half yearly filing.
  • The Board meeting was held on October 29, 2026, with proceedings lasting under an hour.

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Vedanta Oil and Gas Limited Releases Q2 and Half Year | Stockk News